Melbourne-based sports betting startup Favourit is seeking up to 5 million Australian dollars (US$5.3 million) to fuel international expansion and development of mobile platforms, co-founder Toby Simmons said Thursday.

Mr. Simmons, 26, co-founded the startup with his brother Josh, five years his senior, after analyzing the growth of niche social networks such as professional-focused LinkedIn.

“We noticed users heading to sports betting platforms were coming from news websites, social media networks, fantasy tipping sites and wanted to wrap everything into one platform,” he said.

“Funds raised from the Series A will be used to build more features on our mobile platforms and toward localization to capture the growth in non-English speaking countries like those in Asia,” Mr. Simmons said.

He noted the venture’s Android app is likely to be launched in the next quarter, following its Apple Inc. -friendly iOS launch earlier this month.

Goldman Sachs Group Inc. has lost a managing director in its Australian equities capital markets division after Hugh Falcon left the bank for Macquarie Group, people familiar with the matter told Deal Journal Australia.

Melbourne-based Mr. Falcon will be named as co-head of Australian ECM, alongside Sydney-based executive director Mark Warburton, one of the people said. His departure, and that of two juniors in coming weeks, leaves Goldman without a Melbourne ECM presence, the people said.

The only thing worse than being talked about is not being talked about, Oscar Wilde famously said.

But for Deutsche Bank, having its logo plastered across the hull of a boat carrying asylum seekers may not be the publicity it had in mind.

The boat, carrying 66 men, women and children likely from south Asia, arrived at Geraldton port in Western Australia on Tuesday having been undetected by border patrols. That has prompted widespread interest from local media and photographers, especially given that immigration is a touchstone issue politically in Australia.

The footage ran on nightly news reports and in many of the country’s newspapers, giving the Deutsche Bank logo unexpected air time.

Australian property developer Peet Ltd. is raising 124 million Australian dollars (US$130.1 million) to fund the takeover of listed peer CIC Australia Ltd.

The raising–led by Bank of America Merrill Lynch–is being conducted at A$1.15 a share, the company said Wednesday, confirming news published earlier by The Wall Street Journal. It represents a 17.9% discount to Peet’s last-traded price.

Peet is paying A$0.60 a share, or A$76 million, for Canberra-based CIC, which has seven projects across Australia’s New South Wales and South Australia states, the Australian Capital Territory and Northern Territory. CIC has contracts worth A$148 million.

The best option for beleaguered Billabong International Ltd. shareholders is to accept a 287.4 million Australian dollar (US$301.6 million) takeover proposal from a consortium led by private equity firm Sycamore Partners Management, analysts said Wednesday.

In a note to clients, Citigroup Inc.’s Craig Woolford cut the stock’s target price to the tabled A$0.60 a share from A$0.90 a share, as he believes there’s a very high probability of a deal proceeding. That’s despite it representing an enterprise value to earnings before interest, tax, depreciation and amortization, or EV/Ebitda, multiple below comparable transactions from the past eight years.

“The company has been backed into a corner and, in our view, the shareholder’s best option will be to accept, given the alternative is likely lower,” Mr. Woolford said. “The fact that due diligence by two private equity firms could only justify A$0.60 indicates that the underlying sales base is far smaller and the costs are much greater.”

Australian paper merchant PaperlinX Ltd. is set to appoint Moelis & Co. to assess its funding options, people familiar with the matter said Tuesday.

PaperlinX’s profitability has been hurt by consumers spending less on paper products like documents and glossy reports, choosing instead to publish and distribute material online. The company has been selling assets to raise money, and is targeting more sales of non-paper products like signage and packaging.

The advisory mandate will focus on the group’s debt facilities, which totaled around 435 million Australian dollars (US$454 million) at Dec. 31, the people said.

At its interim results in February, PaperlinX said it had extended a euro-denominated facility with ING until Sept. 30, 2014. It also said the majority of its debt would mature between 2014 and 2017.

Barclays PLC has hired former Citigroup Inc. head of G10 interest rate derivatives trading Richard Connell, according to an internal memo obtained by Deal Journal Australia.

Mr. Connell joined the U.K. bank’s Sydney offices this week as a director and head of structured rates trading. He will report to Anthony Robson, the bank’s head of Australian fixed income trading.

Mr. Connell, who left Citi in late 2012, will focus on growing the bank’s inflation-related trading business to clients in Australia and offshore. Citi relocated Tokyo-based managing director Alain Verdickt to Sydney to head its G10 rates trading unit for the Asia Pacific ex-Japan.

China’s Sichuan Hanlong Group is facing more than just a blow to its pride after an offer worth 1.18 billion Australian dollars (US$1.23 billion) to acquire full control of Africa-focused iron ore miner Sundance Resources collapsed.

It’s also staring at hefty paper losses on its 14.2% stake in Sundance.

Hanlong paid 44 cents for each of the 443.79 million Sundance shares it acquired from the trustees of the Talbot Group in March 2011, valuing the total transaction at A$190.9 million. Investments made by the Talbot Group were being liquidated after founder Ken Talbot died along with much of the Sundance board in a plane crash when visiting its West African operations in June 2010.

UBS AG’s Australian head of hedge fund sales Thomas Anglin has relocated to New York as part of the creation of a new global sales desk, according to an internal memo obtained by Deal Journal Australia.

Mr. Anglin and New York-based colleague Fred Liljewall will report to Matt Foulds, UBS’s head of Americas equity distribution, and cover hedge funds including Viking, Lone Pine, Blue Ridge, Maverick, Manikay and Tiger Global, according to the memo.

“Tom and Fred will become global Client Captains for these funds and provide a single, global point of advisory contact for them in place of the existing multi-region coverage model,” UBS’s global head of equity distribution Dominic Vail said in the memo.

About Deal Journal Australia

Deal Journal Australia is an up-to-the-minute take on the deals and deal makers that shape the Australian landscape, including mergers and acquisitions, capital raisings, private equity and debt markets. In short, wherever money changes hands. Deal Journal Australia is updated throughout each trading day with exclusive commentary, analysis, data, news flashes and profiles. The Wall Street Journal’s Gillian Tan is the lead writer, with contributions from other Journal and Dow Jones reporters and editors. Send news items, comments and questions to gillian.tan@wsj.com.